Bachus' leadership spot on Financial Services in jeopardy

Capitol Hill newspapers Roll Call and Politico are reporting that Rep. Spencer Bachus could lose his position as top Republican on the House Financial Services Committee in a GOP vote possibly today.

Bachus had a tough go during the debate over the $700 billion economic rescue package for the financial services industry, which he ultimately supported. He angered Republicans and Democrats alike during the tense closed-door negotiations. At the time, Bachus told me that he had been checking with his colleagues and that he didn't think his ranking slot was threatened. He said the same after the November elections.

But that appears to have changed. House Minority Leader John Boehner of Ohio has arranged for the Republican Steering Committee to take a "no confidence" vote, possibly today, on Bachus' position.

After an expensive and competitive campaign within the Republican caucus, the same party committee voted two years ago this week to give Bachus the job. Ranking member positions are selected by the party members and are not automatically handed out based on seniority.

UPDATE: Bachus said this morning that he would be withholding comment until everything shakes out this afternoon, but that he wasn't worried.

UPDATE: Bachus' confidence was justified: His Republican colleagues decided to let him keep the post. But it was still a politically intriguing day. I'll have more in tomorrow's paper.